The Hindu Business Line : HSBC to launch Dynamic Midcap fund

Sahara Mutual has declared dividends of 100 per cent and 30 per cent for Sahara Tax Gain and Sahara Growth respectively. The record dates for the same are January 19 and January 28 respectively.

Birla Mutual has fixed January 18 and January 28 as the record dates for dividends declared for Birla MNC and Birla Midcap respectively.

UTI Mutual Fund has declared a dividend of 100 per cent for UTI Master Value Fund. The record date is February 7. The fund had previously declared a dividend of 140 per cent in 2004.

HDFC Mutual has appointed Mr Dhawal Mehta of Alliance Capital Mutual Fund as Senior Fund Manager of HDFC Mutual Fund with effect from January 10, 2005. Mr Mehta will be the fund manager of HDFC Core & Satellite Fund, HDFC Multiple Yield Fund, HDFC Monthly Income Plan, HDFC Children's Gift Fund and HDFC TaxSaver.

Reliance Mutual has declared monthly dividends of Rs 0.144 for Reliance Income Fund Rs 0.0351 per unit for Reliance Floating Rate Fund. The record dates are January 17 and January 19 respectively.

JM Mutual is to launch an arbitrage fund in the first week of February. The fund is designed to enable retail investors to participate in the derivatives market. The fund house has already received approval from SEBI for the fund.

HSBC Mutual is to launch HSBC Dynamic Midcap fund. A draft offer document has been filed with SEBI. The fund will invest predominantly in mid-and small-cap stocks but has the mandate to move a significant portion of the assets towards fixed income securities if the fund manager becomes cautious or negative about equity market.

HDFC Mutual is to launch HDFC Premier Multi-Cap Fund. The fund aims to invest in smaller, fast-growing, "bluechip" companies. A draft offer document has been filed with SEBI.

BL Research Bureau

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